Press Release

Press Release

Jan. 9, 2007
Nikko Cordial Securities Inc.

Change of Director's Duty

Nikko Cordial Securities Inc. hereby announced the changes of Director's duty as follows;

[Change of Director's Duty] Effective as of January 9, 2007

(Resign)Institutional Business IIand IPO Underwriting & Consulting President & CEO Mikio Kitabayashi (currently Institutional Business IIand IPO Underwriting & Consulting)
Institutional BusinessIand Institutional Business II and Institutional Business Development Executive Deputy President Noriyuki Ogasawara (currently Institutional Business Iand Institutional Business Development)
Products & Marketing and Research and IPO Underwriting & Consulting Senior Executive Managing Director Akira Fukuda (currently Products & Marketing and Research)

This material is an English translation of a Japanese announcement made on Jan. 9, 2007.Although the Company intended to faithfully translate the Japanese document into English, the accuracy and correctness of this translation are not guaranteed.